FINANCIAL NEWS

Dubai apartment prices drop 2.25% in July

05 Sep 2010

(MENAFN) A report issued by Reidin.com showed that the prices of property in Dubai are continuing to fall, with apartments sliding by 2.25 percent in July in comparison to June, Reuters reported.

Reidin.com said that villa prices had slipped by 1.19 percent last month in comparison to June. The firm�s all-residential sales price index saw a nominal drop of 0.85 percent in the same period.

In June, the agency�s main index dropped by 0.35 percent. It slipped by 1.23 percent in May. However, year-on-year, Reidin.com�s all-residential index showed 1.33 percent increase in July.

In quarterly terms, the apartment price index dropped by 5.23 percent in the second quarter in comparison to the same period last year. The villa index rose by 6.99 percent in the same period.

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